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In view of resurgence of COVID 19, SBI Card has created Resolution Framework 2.0 in line with the guidelines issued by the regulator wherein eligible customers can opt to convert the current outstanding on their card to a monthly EMI payment option at a pre-defined tenor and interest rate
Customer eligibility has been pre-defined by SBI Card as per guidelines issued by regulator. Kindly refer to our Resolution Framework 2.0 policy document available on our website (https://www.sbicard.com/en/resolution-framework-2-0-policy.page)
Please visit our website to apply for the Resolution Framework 2.0. Such a request shall be reviewed within 30 days and restructuring shall be offered if eligible.
No, for availing Resolution Framework 2.0 all your card accounts need to be standard as on 31st March, 2021.
Yes, however your other card accounts will also get blocked
Yes, however, upon opting for the Resolution Framework 2.0 for one of your card accounts, all other cards shall be blocked for any further usage.
Accounts under Resolution Framework 2.0 shall be reviewed periodically, and reinstatement / new card shall be offered basis repayment behavior.
For cardholders who opt for the Resolution Framework 2.0, their CIBIL will be updated as “Restructured due to Covid-19”. Impact on credit score will be as per the internal policies of the credit bureau.